"Dobbs will develop and host a new daily program premiering in the first quarter of 2011," said Fox, in a press release. "He will also make appearances across a variety of FBN programs to provide analysis and commentary on business news of the day."

Dobbs was one of the original members of CNN which along with CNNMoney.com is a unit of Time Warner (TWX, Fortune 500).

With the exception of a hiatus from 1999 to 2001 to found Space.com, he worked for CNN from its start in the 1980 until his final broadcast on Nov. 11, 2009.

In recent years, Dobbs spent much of his time focusing on immigration. In his final broadcast, he said that immigration and other important issues "are now defined in the public arena by partisanship and ideology rather than by rigorous empirical thought and forthright analysis and discussion. I'll be working diligently to change that as best I can."

A Fox spokesperson did not immediately return a message about the length of Dobbs' contract and the amount he will be paid.

Dobbs follows in the footsteps of another former CNN personality who switched to Fox: Glenn Beck.